The purpose of this study was to address Advanced Placement (AP)® policy-related questions from administrators at the University System of Georgia (USG) using current AP Exam records and student course performance at four institutions. Specifically, comparisons of sequent or subsequent course grades were made between AP and non-AP students. This report details the AP Exam titles and institutions studied, analysis methods, and results, as well as data considerations to note. This study focused on examining the credit and placement policy or policies at the four institutions across multiple subject areas. Therefore, one research question was proposed for each exam title: How do AP Exam credit-holding students perform in sequent or subsequent courses compared to students without credit who took the corresponding introductory course at the institution? Four representative institutions, one from each USG institutional sector, were selected by USG for study: (1) Abraham Baldwin Agricultural College (ABAC); (2) Clayton State University (CSU); (3) Kennesaw State University (KSU); and (4) University of Georgia (UGA). Students in this study were first-time entering first-year students in the fall of 2013. Two academic years of course data for this cohort were included: 2013-14 and 2014-15. Course records from the institutions were matched to College Board AP Exam records using student identifying information. Due to varying AP Exam volumes, not all institutions were included in analyses for each AP Exam title. The combination of AP English Language and Composition and AP English Literature and Composition (referred to as "English") is the only area where all four institutions were able to be studied. Full Comparison Results are appended.